Mei Lin Kwok Acquires 338 Nassau Avenue Industrial Property In Brooklyn For $1.6M

This industrial property, located at 338 Nassau Avenue in Brooklyn, was sold for $1,600,000. The asset encompasses approximately 3,194 square feet, translating to a price per square foot of $500. The property was delivered vacant, ensuring a clean state for the new owner.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,600,000
• Address: 338 Nassau Avenue
• Market: Brooklyn
• Square Footage: 3,194
• Price Per Square Foot: $500
• Buyer: Mei Lin Kwok
• Seller: Francis Bosco
• Buyer's Representative: Joe Ibrahim - Right Time Realty
• Seller's Representatives: Jakub Nowak & Thomas Brennan - Marcus & Millichap

The successful closing was announced by Marcus & Millichap and Right Time Realty, highlighting the stable demand from users for smaller industrial buildings in the Boroughs. The transaction was executed in an all-cash format, reinforcing the operational viability of such properties in the market.